Online sales advice

[Blane]

Hi,

I am semi-captive in Colorado, and the agency I work for has little to no web presence at all.
My question may be rather ignorant, but it's one that I must ask.
If I create a website for life & health, and I sell policies outside of Colorado (where I'm licensed) do I need to be licensed in other states as well?

Thanks in advance!!

-Bear

 

[CHUMPS FROM OXFORD]

Yes, you do.

 

[The New Guy]

Hi,

I am semi-captive in Colorado, and the agency I work for has little to no web presence at all.
My question may be rather ignorant, but it's one that I must ask.
If I create a website for life & health, and I sell policies outside of Colorado (where I'm licensed) do I need to be licensed in other states as well?

Thanks in advance!!

-Bear

Does that mean you spend half your time locked up?

 

[insureagent]

each state requires that you are licensed in that state if you are solicting business in that state

 

[indmedins]

Actually you need a non-resident license in each state you wish to sell in, easy to get, no tests. However, you have to pay state fees.

 

[Blane]

Thanks for the answers

 

[NewHealthStrategies]

Make sure you understand your agency contract, as MOST have a very clear clause that you CANNOT sell business EXCEPT through the agency that is funding/providing for you....

 

[Bob_The_Insurance_Guy]

I would pretty much guarantee you that there are enough people in your entire STATE to handle, where you don't need to deal with an alien license.

Especially starting out the way you are.

Build up to it. There are different plan designs to deal with, along with compliance issues. Walk before you can run.

 

[TXINSURANCE]

I agree with Bob - you are likely too new to play in that arena.

Maybe after a few years but not right now. It is very easy to do and not a huge hurdle (just more money and setup leg work). Colorado is awesome anyhow - great market, tons of opportunity.

 

[Guest]

Make sure you understand your agency contract, as MOST have a very clear clause that you CANNOT sell business EXCEPT through the agency that is funding/providing for you....

...and THEY may ALSO need to have non-rez licenses in the states you want to do biz in; (if so, that would be the "captive" part of the contract).